It’s time to renew your annual membership for APIV Professional Standards Scheme.
Why belong to the APIV Scheme
Belonging to the APIV Scheme ensures our members enjoy capped liability, Professional Standards Councils (PSC) recognition, mitigation of personal liability, and an enhanced professional risk profile.
What are the benefits of being an APIV Scheme Member?
What needs to be completed?
- Complete the Self-declaration online (link below). A PDF copy of the questionnaire can be found below. Note: This is only a guide for you to complete the online version of the questionnaire
- Make payment of your invoice sent via email by no later than 20th February 2023.
Can I get an extension?
Unfortunately, no – due to the API’s ongoing compliance obligation with the Professional Standards Councils, no extension can be offered.
Your APIV membership may lapse and may put your company and all associated members in breach of the APIV membership policy.
What documents/information do I need to complete the renewal?
- Ensure your company/Business information is up-to-date (See Notes section)
- Current Certificate of Currency
- Current Professional Indemnity Insurance Policy wording
- To complete the last section of the declaration, you will need to know the number of valuations conducted in the last calendar year (i.e. Mortgage, Low-Risk and other non-mortgage, Full inspection, restricted assessment (kerbside), and desktop assessments for Residential, Commercial, and development.)
- Provide your Upper-End Values (highest valuation). This will be the highest valuation conducted during your previous PI policy period, NOT during your current PI policy.
- Prepare your APIV renewal invoice for payment. Please ensure the first five (5) numbers are quoted in the description if paying by EFT. Surcharges apply to all Card payments.
- If you need to add or remove members for your APIV Scheme coverage, please fill out the APIV Additional Member Application or the APIV Resignation form and send it to APIV Admin
- If your PI policy is still current, could you report on your last PI policy period? (e.g. if your policy is from 1/1/2022 – 1/1/2023, then your highest valuation needs to be between 1/1/2021 and 1/1/2022).
- If you conduct both Low-Risk Valuations and Non-Low Risk Valuations, you will need to disclose both highest valuations
What are the consequences of non-compliance with the Scheme?
Non-compliance affects the security and effectiveness of our Scheme for all members. To understand the full exposure, please review:
What are the consequences of non-compliance?
Don’t forget to update the APIV with any changes to your ongoing Scheme membership.
APIV Current Resources and Forms
If you have any questions or require any further assistance, don’t hesitate to API Admin.
Posted on February 16, 2023
APIV APIV Scheme Capped liability Insurance member obligations Professional indemnity Standards